Ero Copper Corp. (NYSE:ERO) Short Interest Update

Ero Copper Corp. (NYSE:ERO) saw a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 2,850,000 shares, a decline of 5.3% from the August 31st total of 3,010,000 shares. Currently, 3.0% of the company’s shares are short sold. Based on an average daily trading volume, of 286,700 shares, the days-to-cover ratio is currently 9.9 days.

Ero Copper Stock Down 2.2 %

ERO traded down $0.49 during trading on Monday, reaching $22.27. The stock had a trading volume of 221,532 shares, compared to its average volume of 335,691. Ero Copper has a one year low of $11.35 and a one year high of $24.34. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 34.26 and a beta of 1.19. The company has a current ratio of 0.82, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. The stock’s 50 day moving average is $20.00 and its two-hundred day moving average is $20.54.

Ero Copper (NYSE:ERO) last announced its earnings results on Thursday, August 1st. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $117.10 million during the quarter. Ero Copper had a negative net margin of 4.79% and a positive return on equity of 9.89%. During the same period in the prior year, the business posted $0.24 EPS. As a group, analysts expect that Ero Copper will post 1.68 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on ERO shares. Jefferies Financial Group raised shares of Ero Copper from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. BMO Capital Markets upgraded Ero Copper from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 26th. Bank of America started coverage on Ero Copper in a report on Tuesday, September 3rd. They set a “buy” rating and a $28.00 target price for the company. Raymond James upgraded shares of Ero Copper from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 3rd. Finally, StockNews.com lowered shares of Ero Copper from a “hold” rating to a “sell” rating in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Ero Copper has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Institutional Trading of Ero Copper

Several institutional investors have recently bought and sold shares of the company. Lighthouse Investment Partners LLC bought a new position in Ero Copper in the 2nd quarter valued at approximately $2,521,000. Decade Renewable Partners LP purchased a new stake in shares of Ero Copper during the second quarter valued at $1,436,000. Toronto Dominion Bank increased its holdings in Ero Copper by 38.7% in the 2nd quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock worth $54,000 after buying an additional 709 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in shares of Ero Copper by 74.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 130,500 shares of the company’s stock valued at $2,790,000 after acquiring an additional 55,500 shares during the last quarter. Finally, Goehring & Rozencwajg Associates LLC grew its stake in shares of Ero Copper by 22.5% in the second quarter. Goehring & Rozencwajg Associates LLC now owns 340,008 shares of the company’s stock worth $7,266,000 after acquiring an additional 62,500 shares during the period. 71.30% of the stock is owned by hedge funds and other institutional investors.

About Ero Copper

Ero Copper Corp. engages in the exploration, development, and production of mining projects in Brazil. The company is involved in the production and sale of copper concentrate from the Caraíba operations located in the Curaçá Valley, northeastern Bahia state, Brazil, as well as gold and silver by-products.